O'Charley's gets $125 million revolver

By Sara Rosenberg

New York, Oct. 19 - O'Charley's Inc. closed on a new $125 million five-year secured revolving credit facility, according to a company news release.

Wachovia and AmSouth Bank acted as co-lead arrangers on the deal, with Wachovia administrative agent, AmSouth and Bank of America syndication agents, Key Bank and JPMorgan documentation agents, and Fifth Third Bank, First Tennessee Bank, SunTrust Bank, and U.S. Bank as participants.

There is a $25 million accordion feature.

The new revolver replaces the company's previous $125 million facility that was set to mature on Nov. 4, 2007.

"This new facility is less costly to the company than the facility that it replaces and provides us with greater financial flexibility," said Larry Hyatt, chief financial officer, in the release.

"Along with our operating cash flows, we believe that this facility will provide us with ample liquidity to fund our planned operating and strategic initiatives."

O'Charley's is a Nashville, Tenn., casual-dining restaurant company.

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